LONDON, Feb 27 (Reuters) - The London Metal Exchange (LME) on Friday issued a consultation paper on proposed changes for rules on position limits to comply with a directive from Britain's financial regulator.

The changes will strengthen the LME's ability to calibrate and manage limits directly, ensuring they remain appropriate and responsive to market dynamics, the LME, the world's primary metals marketplace, said in December when it outlined the plan.

(Reporting by Polina DevittEditing by David Goodman)

((polina.devitt@thomsonreuters.com))